Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate. All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion. This is must have information for Calgary Home Buyers and Calgary Home Sellers.
Absorption Rate (Months of Inventory) (the inventory divided by the number of sales in the last month). What does this mean you might ask?
| Buyer’s Market | >4.0 | Drives prices down |
| Balanced Market | Between 2.4 to 4.0 | Prices typically remain stable |
| Seller’s Market | <2.4 | Drives prices up |
*** Absorption Rate***
In my opinion this is the most critical number to look at. Attached homes deceased by .30 this month. Detached homes & Row Homes showed a small increase while apartment condos increased the most substantially adding 2.37 months of inventory.
| July 2016 | August 2016 | Change | |
| Detached | 2.78 | 2.99 | 0.21 |
| Semi Detached | 3.60 | 3.30 | -0.30 |
| Attached – Row | 4.77 | 4.88 | 0.11 |
| Apartment | 5.88 | 8.26 | +2.37 |
| Total City | 3.61 | 3.95 | 0.34 |
Calgary Listing Inventory
September Inventory levels increased in all categories this month. **** The increase was mostly in detached homes and I believe the reason is because the Real Estate Board merged commercial into the residential system and so it was simply a data change and not that true market.
| Inventory | July 2016 | August 2016 | Change |
| Detached | 2720 | 2823 | 103 |
| Semi Detached | 497 | 515 | 18 |
| Attached – Row | 868 | 888 | 20 |
| Apartment | 1571 | 1651 | 80 |
| Total City | 5656 | 5877 | 221 |
Calgary Sales:
Sales in all categories except apartment condos stayed steady this month. Apartment condos showed a 25% decrease from last month. Of interest this is the first month where year over year sales showed an increase which is very positive news.
| Calgary Sales | July 2016 | August 2016 | Change | % Change |
| Detached | 980 | 945 | -35 | -3.57% |
| Semi Detached | 138 | 156 | 18 | 13.04% |
| Attached – Row | 182 | 182 | 0 | 0.00% |
| Apartment | 267 | 200 | –67 | -25.09% |
| Total City | 1567 | 1488 | -79 | -5.04% |
Calgary Real Estate Sales Prices:
As you can see below there was not much movement in prices this month.
| Sales Prices | July 2016 Benchmark Price | August 2016
Benchmark Price |
Change |
| Detached | 503,200 | 503,400 | +200 |
| Semi Detached | 387,100 | 386,500 | -600 |
| Attached – Row | 310,000 | 311,100 | +1,100 |
| Apartment | 274,900 | 274,700 | -200 |
| Total City | 440,200 | 440,400 | +200 |
Sales Prices “Year to Date”
Year to date prices
| Sales Prices | Dec 31, 2015 Benchmark Price | August 2016 Benchmark Price | Change
$ |
% Change |
| Detached | 514100 | 503,400 | -10,700 | -2.08% |
| Semi Detached | 393100 | 386,500 | -6,600 | -1.68% |
| Attached – Row | 318500 | 311,100 | -7,400 | -2.32% |
| Apartment | 288,000 | 274,700 | -13,300 | -4.62% |
| Total City | 452800 | 440,400 | -12,400 | -2.74% |
Price Sensitivity
**Please note that these numbers do change on a community basis and more so for towns. This report does not include rural properties. If you would like to find stats on your community just let me know. If you have any questions about this summary or Real Estate questions please feel free to contact us.
TSW Real Estate Group
Tags: Calgary Condo Prices, Calgary Home Prices, calgary real estate